Two accounting firms in New Jersey, Rotenberg Meril Solomon Bertiger & Guttila and Torchia Foster, plan to merge Thursday to create one of the largest independent firms in the Garden State.
The move will expand RMSBGs presence in Bergen County and add extra expertise to the firm. RMSBGs main office is in Saddle Brook, N.J., with additional offices in Woodbridge and New York City, while Torchia Fosters office is in Paramus. The 10 members of Torchia Foster will be moving to RMSBGs Saddle Brook office, including managing partner Antonio Torchia, who will become a partner at RMSBG.
Basically we both operate in the same geographic area, and the strength of Tony Torchias firm in small-business consulting and auditing, and estate and tax planning, is going to add to our overall firm strength, said RMSBG partner and co-founder Larry Meril, director of audit and accounting at the firm. Tonys firm, being a smaller firm, was really looking forward to joining a larger organization that has the technological abilities and systems to deliver client services.
The two firms had been discussing the merger for about five months since after tax season. The deal is structured as a straight merger, with no financial consideration changing hands. The combined firm will retain the RMSBG name. Meril estimated the revenue of the combined firm will be about $10 million. Prior to the merger, which takes effect Oct. 1, the firm made about $8.5 million in annual revenue.
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